New Delhi, Mar 16, 2018: Union Commerce and Industry Minister Mr Suresh Prabhu on Wednesday said technologies like robotics, Artificial Intelligence (AI) and others will form the core of the new Industrial Policy, to be unveiled in coming months, to technically upgrade the existing industries.
“While we modernise existing industries, we should focus on new industries also” as they will drive the growth of tomorrow, “Mr Prabhu said.
Delivering key note address at the AIMA Leadership Conclave here, Mr Prabhu said Industrial revolution 4.0 was going to change the technological landscape of the industries in the country. He asked the industries to be ready to adopt such changes coming with Industrial Revolution 4.0.
“Because of new industries, what will happen to existing industries? Our policy focuses on modernising existing industries as a first step,” Mr Prabhu said.
The term Industrial Revolution 4.0 is synonymous with smart manufacturing and it encompasses cyber-physical systems, Internet of Things, robotics, artificial intelligence, cloud computing and cognitive computing.
He said introduction of these technologies was not going to create job crisis.
“These new technologies may have some implications on employment generation in one sector, but it would create huge job opportunities in several other areas,” he said.